News May 25, 2023
Ennis Inc. Acquires Michigan-based Trade Printer
The purchase of Stylecraft Printing Company marks the third acquisition that publicly traded, Texas-headquartered Ennis has made since August.
It’s another acquisition for Ennis Inc. (asi/52493).
The Midlothian, TX-based supplier of print solutions and promotional products announced that it’s buying the real estate and operating assets of Stylecraft Printing Company. Financial terms of the deal weren’t immediately released.
Based in Canton, MI, Stylecraft is a trade-only printer that specializes in business forms, integrated products and commercial printing. Founded in 1967, Stylecraft will continue operations at its Michigan location.
Ennis CEO Keith Walters said that the acquisition expands the company’s product lines and geographical footprint, while adding an established firm to the supplier’s growing roster of subsidiaries. “The acquisition of Stylecraft continues our strategy of adding quality companies to serve our customers and create return for our shareholders,” said Walters.
The Stylecraft deal follows Ennis’ November 2022 acquisition of School Photo Marketing, a Morganville, NJ-based company that provides printing, yearbook publishing and marketing-related services to more than 1,400 school and sport photographers that service schools.
That deal came on the heels of the August 2022 acquisition of certain assets, including customer lists and intellectual property, from Gulf Business Forms – a trade printer that specializes in custom-printed documents.
A publicly traded firm, Ennis reported in April that total company sales for its full fiscal year, which concluded Feb. 28, increased 8% to $431.8 million. Net earnings for the fiscal year were $47.3 million, or $1.82 per diluted share.
Ennis sells promotional products, business forms and supplies, checks and software-compatible forms, envelopes, custom business forms and presentation folders, among other items.